3419 E Garrison Ln · Mead, WA 99021

$174,995

3 bd · 2.0 ba · 1,782 sqft · Manufactured public records · 82 Days on market

Built 1990 $98/sqft · 18% above area Est $148k · 18% over ↓ 3% since listing

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.9/30.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• Schools +6.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully refreshed 3-bedroom, 2-bath home offering 1,782 sqft of comfortable single-level living in a desirable Mead community. Thoughtfully updated throughout, the home combines spacious living areas, modern finishes, and practical functionality. Inside, you’ll find an open-concept layout filled with natural light, featuring an oversized great room and an updated kitchen with white cabinetry, butcher block countertops, stainless steel appliances, skylights, and a large island perfect for gathering and entertaining. A split-bedroom design provides added privacy, while a dedicated office or flex space with built-ins offers versatility for work, hobbies, or additional living space. Outside, the home features fresh exterior paint, a detached 2-car garage, covered carport parking, and a ramp for minimal-step access. The low-maintenance setting and rare combination of square footage, parking, and accessibility features make this home stand out from the rest. Move-in ready, and full of value!

Key facts

• Open concept kitchen
• Cozy wood stove
• Oversized carport

Tags

• OPEN CONCEPT KITCHEN
• BUTCHER BLOCK COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• COZY WOOD STOVE
• DETACHED 2 CAR GARAGE
• OVERSIZED CARPORT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.7% vs local median 2.3% in Mead — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#388 in WA) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, schools B+; Watch: amenities F, commute F.
• Mead School District (suburban): math 63% / reading 72% proficiency, ranked #23 of 291 in WA (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 91 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Spokane County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wildfire risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $164,495 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.81%
• DSCR: 1.70
• GRM: 6.8

CMA / ARV

• ARV (median comp): $147,805
• List price: $174,995
• Delta: 18.40%
• Verdict: OVERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14828 N Shenandoah Ln	0.09mi	3/2.0	1,736 (-3%)	0mo	$145,000	$84	91
3126 E Vicksburg Ln	0.19mi	3/2.0	1,736 (-3%)	8mo	$100,000	$58	80
14820 N Chesapeake Ln	0.15mi	3/2.0	1,596 (-10%)	1mo	$166,800	$105	75
14826 N Mcclean Ln	0.32mi	3/2.0	1,680 (-6%)	3mo	$210,000	$125	73
14808 N Chesapeake Ln	0.15mi	3/2.0	1,680 (-6%)	13mo	$175,000	$104	73
2928 E Fort Sumter Ln	0.34mi	2/2.0 (-1)	1,680 (-6%)	6mo	$170,000	$101	65
14908 N South Savannah Ct	0.20mi	3/2.0	1,960 (+10%)	14mo	$179,900	$92	62
14620 N Bear Creek Ln	0.28mi	3/2.0	1,620 (-9%)	12mo	$187,500	$116	62
15001 N Richmond Ln	0.28mi	3/2.0	1,960 (+10%)	14mo	$214,950	$110	59
3110 E Vicksburg Ln	0.22mi	3/2.0	1,528 (-14%)	10mo	$114,000	$75	58
15026 N Chesapeake Ln	0.25mi	3/2.0	1,568 (-12%)	14mo	$185,000	$118	57
14904 N Chesapeake Ln	0.18mi	2/2.0 (-1)	1,568 (-12%)	13mo	$160,000	$102	56

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.26×
• Total profit: $12,685
• Equity at exit: $26,092

10-year hold

• IRR: 16.0%
• Equity multiple: 2.30×
• Total profit: $63,717
• Equity at exit: $15,130

Cash invested: $48,999 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

ZIP-level market 99021

• Home prices YoY: -18.1%
• Active inventory: 91
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,150 medium
• Mortgage (P&I): −$918
• Tax from tax record: −$63 /mo · $750/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $645

Break-even live

Break-even rent $1,333

Max offer price $174,995

Occupancy floor 65%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $43,749
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2228 E Winger Rd Spokane, WA	3.0	2.0	1500	$2,150	$1.43	43d	1	1.09mi

Listing history 4 events

1. 2026-05-09
   price $174,995 1026-char remark

   Show marketing remark (1026 chars)

   Welcome to this beautifully refreshed 3-bedroom, 2-bath home offering 1,782 sqft of comfortable single-level living in a desirable Mead community. Thoughtfully updated throughout, the home combines spacious living areas, modern finishes, and practical functionality. Inside, you’ll find an open-concept layout filled with natural light, featuring an oversized great room and an updated kitchen with white cabinetry, butcher block countertops, stainless steel appliances, skylights, and a large island perfect for gathering and entertaining. A split-bedroom design provides added privacy, while a dedicated office or flex space with built-ins offers versatility for work, hobbies, or additional living space. Outside, the home features fresh exterior paint, a detached 2-car garage, covered carport parking, and a ramp for minimal-step access. The low-maintenance setting and rare combination of square footage, parking, and accessibility features make this home stand out from the rest. Move-in ready, and full of value!

2. 2026-04-04
   price $189,995 1026-char remark

   Show marketing remark (1026 chars)

   Welcome to this beautifully refreshed 3-bedroom, 2-bath home offering 1,782 sqft of comfortable single-level living in a desirable Mead community. Thoughtfully updated throughout, the home combines spacious living areas, modern finishes, and practical functionality. Inside, you’ll find an open-concept layout filled with natural light, featuring an oversized great room and an updated kitchen with white cabinetry, butcher block countertops, stainless steel appliances, skylights, and a large island perfect for gathering and entertaining. A split-bedroom design provides added privacy, while a dedicated office or flex space with built-ins offers versatility for work, hobbies, or additional living space. Outside, the home features fresh exterior paint, a detached 2-car garage, covered carport parking, and a ramp for minimal-step access. The low-maintenance setting and rare combination of square footage, parking, and accessibility features make this home stand out from the rest. Move-in ready, and full of value!

3. 2026-02-28
   price $199,995 1026-char remark

   Show marketing remark (1026 chars)

   Welcome to this beautifully refreshed 3-bedroom, 2-bath home offering 1,782 sqft of comfortable single-level living in a desirable Mead community. Thoughtfully updated throughout, the home combines spacious living areas, modern finishes, and practical functionality. Inside, you’ll find an open-concept layout filled with natural light, featuring an oversized great room and an updated kitchen with white cabinetry, butcher block countertops, stainless steel appliances, skylights, and a large island perfect for gathering and entertaining. A split-bedroom design provides added privacy, while a dedicated office or flex space with built-ins offers versatility for work, hobbies, or additional living space. Outside, the home features fresh exterior paint, a detached 2-car garage, covered carport parking, and a ramp for minimal-step access. The low-maintenance setting and rare combination of square footage, parking, and accessibility features make this home stand out from the rest. Move-in ready, and full of value!

4. 2026-02-28
   listed $179,995 Active 1026-char remark

   Show marketing remark (1026 chars)

   Welcome to this beautifully refreshed 3-bedroom, 2-bath home offering 1,782 sqft of comfortable single-level living in a desirable Mead community. Thoughtfully updated throughout, the home combines spacious living areas, modern finishes, and practical functionality. Inside, you’ll find an open-concept layout filled with natural light, featuring an oversized great room and an updated kitchen with white cabinetry, butcher block countertops, stainless steel appliances, skylights, and a large island perfect for gathering and entertaining. A split-bedroom design provides added privacy, while a dedicated office or flex space with built-ins offers versatility for work, hobbies, or additional living space. Outside, the home features fresh exterior paint, a detached 2-car garage, covered carport parking, and a ramp for minimal-step access. The low-maintenance setting and rare combination of square footage, parking, and accessibility features make this home stand out from the rest. Move-in ready, and full of value!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $750 · $63/mo
• Projected year-2 tax: $1,715 · $143/mo
• Expected delta: +$965/yr (+$80/mo · 128.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 9/10 Extreme 17 unhealthy d/yr today · 20 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,800
• − Mortgage interest: −$9,802
• − Property taxes: −$750
• − Insurance: −$875
• − Repairs & maintenance: −$2,064
• − Management: −$2,064
• − Depreciation: −$5,091
• Taxable income: $5,154
• Est. tax owed @ 24.0%: −$1,237
• After-tax cash flow: $6,508/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mead School District
• NCES district ID: 5304920
• Math proficiency: 63% ▲ 1.00%
• Reading proficiency: 72% ▲ 1.00%
• Median HH income: $64,176
• Composite: 59.93/100
• National rank: #1811
• State rank: #23 of 291 in WA

Livability — Mead

• Score: 63/100
• State rank: #388
• US rank: #15310

Category grades

Amenities F Commute F Cost of living C Crime C Employment B Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mead, WA
• Population (ZIP): 9,226

Population outlook (Spokane County) Hauer SSP2

• Today (2025): 531,314 people
• By 2030: 549,278 · +3.4%
• By 2040: 577,822 · +8.8%
• By 2050: 598,188 · +12.6%
• By 2075: 630,744 · +18.7%
• By 2100: 622,360 · +17.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 7% Two or more races 5% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 5% Portuguese 5% Scottish 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Russian/Polish/Slavic 1% Spanish 1% Tagalog/Filipino 1%

Political lean MEDSL · Spokane

• 2024 margin: Toss-up / Even · D 46.0% · R 51.0% · Other 3.0%
• 2008→2024 swing: -3.8pp toward R · 2008: -1.1pp · 2024: -5.0pp
• All cycles: 2024: R+5.0 2020: R+4.3 2016: R+8.3 2012: R+6.3 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.33%
• Current HPI: 354.3985
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

-2.8% since first listed

4 events — show timeline

• 2026-05-09 Price Changed $174,995 SPOKANEMLS as Distributed by MLS Grid
• 2026-04-04 Price Changed $189,995 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-28 Price Changed $199,995 SPOKANEMLS as Distributed by MLS Grid
• 2026-02-28 Listed $179,995 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2026): $750 · -5.6% YoY. Source: county tax records.